Wockhardt has moved higher by 4% at Rs 694, bouncing back 10% from intra-day lower, after reporting a strong 58% year-on-year (y-o-y) growth in operating profit at Rs 429 crore for the quarter ended March 2012. Net sales grew 32% at Rs 1,241 crore on y-o-y basis.
The pharmaceutical company however, has reported a net loss of Rs 192 crore, due to exceptional loss of Rs 450 crore during the recently concluded quarter. The company had a net profit of Rs 166 crore in previous year quarter.
The exceptional loss mainly comprises of settlement of loan/disputed derivative liabilities, provision of corporate debt restructuring (CDR) recompense and impairment of goodwill,” Wockhardt said in a filing.
As many as a combined 2.06 million shares have changed hands on the counter in morning deals, against an average sub 0.50 million shares that were traded daily in past two weeks on both the exchanges.